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Unarranged marriages: the union of Taishin and Dah An banks was the first merger free of government input. (Asia: Taiwan).

Publication: The Banker
Publication Date: 01-JUL-02 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Unarranged marriages: the union of Taishin and Dah An banks was the first merger free of government input. (Asia: Taiwan).(Taishin International Bank, Dah An Commercial Bank)(Statistical Data Included)

Article Excerpt
The process of consolidation of Taiwan's saturated banking market took a major step when the first self-initiated merger among the cohort of "new" private banks formed in the early 1990s was consummated in late May.

Five months after plans for a merger were unveiled, the Taishin Financial Holding Company, formed in February, assumed control over the 38 branches of the Dah An Commercial Bank on May 27, making Taishin International Bank one of the island's leading private banks.

On June 17, Taishin FHC chairman Wu Tung-liang joined key executives and government officials to break the earth to start the construction of the 124-metre Taishin Financial Tower on Taipei's prestigious Jenai Circle.

The post-merger Taishin now leads the pack of new private banks with 88 branches and NT$399.7bn in deposits, NT$320.6bn in loans and a net worth of NT$36.6bn.

In the wake of the merger, Taishin's closest competitors are no longer the cohort of new private banks, but older mainstream private financial institutions such as the Chinatrust Commercial Bank and the World Chinese Commercial Bank, the latter of which is the target of takeover attempts by the rival Linyuan and Fubon groups.

The two banks...

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